Hey,
I have a good money habits and no intention to go into debt except for house purchase.
Always paid my credit card on time.
But out of curiously today i saw this option of 'pay over time', example for big purchase like insurance premium etc. I can pay in 6 month without incurring any fees.
Total payment for 06 month is exactly equal to my amount due in 'My Chase Plan'
I have below questions:
1. Does it really make sense to use this or there is any hidden fees.
2. Will it affect my credit score
3. Is it just another way to make me get into bad money habits.
By using pay over time, I am thinking to invest the extra money into Index funds instead of paying in full.
FYI, i have 1 year of emergency funds already saved up in high yield saving account and there is no intention to touch it except for real emergencies.
Thank in advance.
I have a good money habits and no intention to go into debt except for house purchase.
Always paid my credit card on time.
But out of curiously today i saw this option of 'pay over time', example for big purchase like insurance premium etc. I can pay in 6 month without incurring any fees.
Total payment for 06 month is exactly equal to my amount due in 'My Chase Plan'
I have below questions:
1. Does it really make sense to use this or there is any hidden fees.
2. Will it affect my credit score
3. Is it just another way to make me get into bad money habits.
By using pay over time, I am thinking to invest the extra money into Index funds instead of paying in full.
FYI, i have 1 year of emergency funds already saved up in high yield saving account and there is no intention to touch it except for real emergencies.
Thank in advance.
Statistics: Posted by InvestDaily — Tue Feb 27, 2024 10:20 pm — Replies 6 — Views 414